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Bookkeeping vs. Accounting: What’s the Difference?

Bookkeeping vs. Accounting: An Overview Bookkeeping is the process of recording all financial transactions made by a business. Bookkeepers are responsible for recording, classifying, and organizing every financial transaction that…

Highlights of Sales and Excise tax measures, April 7 2022 Budget

Income Tax

Read for GST/HST Course Goods and Services Tax/Harmonized Sales Tax (GST/HST) Health Care Rebate In 2005, the GST/HST public service body rebate for hospitals was expanded to include qualifying charities and…

Highlights of Corporate tax measures, April 7 2022 Budget (Income Tax T2)

Income Tax

Small business deduction A Canadian-controlled private corporation (CCPC) currently benefits from a reduced corporate tax rate on its first $500,000 of active business income (for example, the “business limit”). This…

2022 Federal Budget Analysis

Income Tax

On April 7, 2022, the Government’s budget was presented. Below are the Personal Tax Insights from this year’s announcement. Tax-Free First Home Savings Account The budget proposes to create a new…

Exciting New Beginning: Fintech Academy is re-branding to Fintech College

Fintech Academy

Fintech Academy was started with a goal to provide quality education to students in Accounting, Bookkeeping and Taxation fields. More than 2,500 students have taken education via our courses from…

Coming Soon ON May 2nd

Canada Revenue Agency

Want to know what’s NEW at Fintech! Get NOTIFIED here.

Employer Health Tax – Ontario

Canada Revenue Agency

What is Ontario’s Employer Health Tax? The EHT is a payroll tax paid by employers based on their total annual remuneration. EHT contributions made by an employer are determined by…

Climate Action Incentive – 2022 Update

Canada Revenue Agency

What is Climate Action Incentive? CAI is a type of tax credit that you can claim on your income taxes. It was first introduced to residents of Manitoba in 2018. New Brunswick…

What is T4A? What is T5018?

Canada Revenue Agency

What is T4A? What is T5018? T4A and T5018 forms are used to record payments made to subcontractors during either the previous fiscal or calendar year. What is T4A?…

WSIB Premium Rates – Ontario 2022

Canada Revenue Agency

2022 WSIB Premium Rates – Ontario. The Workplace Safety and Insurance Board (WSIB) has announced that the average premium rate for Ontario businesses will be reduced by 5.1 per cent…